AsianFin -- U.S. Treasury Secretary Scott Bessent on Wednesday extended the use of extraordinary cash management measures aimed at preventing a breach of the federal debt ceiling, pushing the deadline nearly a month to July 24.

In a letter to congressional leaders, Bessent said he had determined that the current “debt issuance suspension period,” which was set to expire Friday, must be prolonged.

The extension permits the Treasury to continue suspending reinvestments in certain government pension and retiree healthcare funds that are not immediately needed for benefit payments, helping to preserve cash as lawmakers work to raise or suspend the borrowing cap.